Norfolk North End, Norfolk, VA—23505
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Norfolk North End, Norfolk, VA
As of Oct '25, the median home price in Norfolk North End, Norfolk, VA is $317,000, with a year-over-year change of 0.9%. This indicates that home prices in Norfolk North End, Norfolk, VA are flat. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $317,000 | 0.9% |
| Single Family | $324,000 | 0.6% |
| Condos | $188,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $205,000 | 0.5% |
3 Bed | $298,000 | 0.7% |
4 Bed | $396,000 | 1.8% |
| 5 Bed | $612,000 | 1.5% |
% of Housing Stock
Rental Trends — Norfolk North End, Norfolk, VA
As of July '25, Rentcast reports the average rent in Norfolk North End, Norfolk, VA is $1,700, with a year-over-year rent change of -0.6%. Per bedroom, the median rent as of July '25 in Norfolk North End, Norfolk, VA is studios: $1,100, 1-bedrooms: $1,150, 2-bedrooms: $1,340, 3-bedrooms: $2,130, 4-bedrooms: $2,460. The most common rental property sizes in Norfolk North End, Norfolk, VA are 2-bedroom and 1-bedroom, accounting for 39.8% and 27.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,700 |
| Studio Rent | $1,100 | $1,100 |
| 1 Bed Rent | $1,040 | $1,150 |
| 2 Bed Rent | $1,250 | $1,340 |
| 3 Bed Rent | $2,100 | $2,130 |
| 4 Bed Rent | $2,500 | $2,460 |
% of Rental Stock
Property Listings — Norfolk North End, Norfolk, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Norfolk North End, Norfolk, VA is 44. This is a increase of 27.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $308,000 | -1.0% |
Listing Count | 52 | 9.0% |
| Listings as % of Homes | 0.2% | 9.0% |
Days on Market | 44 | 27.0% |
Demographics — Norfolk North End, Norfolk, VA
As of the latest ACS Survey released in 2023, Norfolk North End, Norfolk, VA has a population of 29,000, which has decreased by -1.8% over the past 5 years. Norfolk North End, Norfolk, VA is a popular place for families, as children make up 26.2% of the population. The area has a moderately educated workforce, with 31.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,000 | -1.8% |
% Under 18 | 26.2% | 11.0% |
% Seniors | 11.7% | 0.9% |
% WFH | 7.6% | 153.3% |
% w/ College Degree | 31.6% | -0.3% |
As of the latest ACS Survey released in 2023, Norfolk North End, Norfolk, VA is a predominantly white area, with 44.2% of the population identifying as white. The white population has shrunk by 4.3% in the last 5 years. The second most common race or ethnicity in Norfolk North End, Norfolk, VA is black, making up 34.5% of the population. Foreign-born residents account for 9.3% of the population in Norfolk North End, Norfolk, VA, and this percentage has decreased by 17.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 44.2% | -4.3% |
% Black | 34.5% | -0.3% |
% Hispanic | 12.2% | 47.0% |
% Asian | 4.0% | -27.3% |
% Foreign Born | 9.3% | -17.7% |
Mortgage and Risk — Norfolk North End, Norfolk, VA
According to HUD data as of 2023, there were 423 mortgage originations in Norfolk North End, Norfolk, VA, of which 45.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 53.0% above 90% LTV (very high). This implies large mortgage risk in Norfolk North End, Norfolk, VA. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 423 |
% Conventional Loans | 45.0% |
% Government Loans | 55.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Norfolk North End, Norfolk, VA
As of 2024, the percent of homes in Norfolk North End, Norfolk, VA under the Section 8 program is 15.4%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Norfolk North End, Norfolk, VA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 1,358 |
Total Units Section 8 | 1,215 |
% Rentals under Section 8 | 15.4% |
% Occupied Section 8 | 85.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $360 | $1,040 | $1,400 |
| 2 Bedroom | $350 | $1,250 | $1,600 |
| 3 Bedroom | $130 | $2,100 | $2,230 |
| 4 Bedroom | $150 | $2,500 | $2,650 |
Affordability — Norfolk North End, Norfolk, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $317,000 |
| Median Household Income | $55,700 |